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of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivati
by adopting cuts but in the tax codes, the tax breaks, the tax credits that are loaded up in the tax code that go mostly to the wealthiest americans. you are talking about getting rid of the tax benefits or loophole? >> that's exactly right. >> give me an example of this. is there enough money there? >> absolutely enough money to over $1.2 trillion over 10 years. we could get it, for example, from the corporate deferral on-shore profit did companies that make their profit did overseas, did he ever their payments, sometimes never pay them, and >> bill: that just encourages people to move their money or jobs offshore? >> it's an incentive. >> why should we be rewarding them for exporting jobs basically? >> what these corporate interests and wealthy americans do is hide spending in give them a check? we would is a no way. in the tax code, nobody is really examining that. >> bill: exact. >> special tax -- well, mortgage interest deductions for second homes. not just a first home. i will tell you, a big one is the fossil fuel subsidy. i am talking about oil an
significantly. has he lost leverage with republicans? what does that mean for whether your taxes are going up? >>> and stephen colbert talks about his sister running for office and is talking about being white racist of itself. a war of words over race in america tonight. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. diarrhea, gas, bloating? yes! one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. live the regular life. phillips'. a hairline fracture to the mandible and contusions to the metacarpus. what do you see? um, i see a duck. be more specific. i see the aflac duck. i see the aflac duck out of work and not making any money. i see him moving in with his parents and selling bootleg dvds out
.ing a move that has -- considering a move with major implications all over the world. officials want to tax a percentage of every individual savings account and they would reach in the account and take the money. as you can imagine, the reaction has been fierce. senior foreign affairs correspondent greg greg palkot has the story tonight from london. >> the mediterranean island nation of cyprus is small but it rocks the global markets, including the u.s. because it's going to do the unthinkable. fund a near bankrupt government. at least the solution we went for is for sure not the one we would have liked. but under the circumstances, it was the least painful one. >> exchange for a bail-out from the european union and imf, cyprus wants a so-called tax of around 10% on account of $130,000 and over and 7% for the rest. exposure to invest in the greece and lax banking regulations are to blame. attracting foreign investors including russians. brussels and germany are seen by cypriates as the villain. >> we don't want germany here. we don't want them to help them at all. >> all of this is causing
of dollars of emergency crash and creditors impose onetime tax of 3% on all bank deposits under $130,000. >> going deep here. >> the tax could be closer to 10% on people who have over $640,000 in the bank. that's according to the "the wall street journal" this morning. people stood in long lines over the weekend to withdraw money before the policy went into effect and now russian president vladimir putin is calling the move, quote, unfair, unprofessional and dangerous. russian citizens make up the majority of billions of euros held in cypress bank. this is important. >> cypress. >> who cares about cyprus? >> come on, cyprus. are you telling me if somebody sneezes in cyprus we get a cold than on the nasdaq? >> tell us why. >> we have a cold on the nasdaq. the nasdaq is going down today. not too many people care about cyprus but a way the europeans have screwed up the bailout by getting the people to pay a part of the cost. you could have a run on the bank and europeans say why do i have my money in this bank? might be a tax on me next. it shows that europe is still a mess, that they h
romney has not paid taxes for ten years, he's got a record of this slander and these lies. >> happy wednesday, sean. look, this is a majority leader in the senate that's gotten caught lying many times and when the marine corps says that what he is saying is unsubstantiated, they're saying he's lying again. harry reid has made a habit of being dishonest on the floor of the senate and what he is trying to do is just cover the president's butt on sequester. the president himself started to cover his own butt by playing such silly games as shutting the white house tours down. this is just another version of that. remember, donald trump offered to pay for all those white house tours. >> sean: whoa, whoa, whoa. >> and the president didn't take him up on it. >> sean: and wait a minute, i offered to pay for a week after eric biology golling got start started. by the way, it's off the table, i pay enough in taxes. >> you and bill maher. >> sean: yeah, he's even sick of paying taxes and california democrats are losing him. gee, time to wake up, bill. but here is my point: these democrats get
't the president, but the governor of california, and tax reform happened in that state. and it wasn't until later, ironically back in california, when ronald reagan as the president signed into raw the economic recovery -- into law the economic recovery act. real reform happened in the states. as was mentioned yesterday, there are now in america some 30 states that have republican governors and nearly as many that have republican legislatures. [applause] and so that's the good news. the good news is we have success, and it's happening in our states, and we can learn from that to tell our friends and our colleagues in washington how to move forward. because, you see, in the states to be successful we have to be optimistic. we have to be relevant. and most importantly, we have to be courageous. let me talk to you a little bit about each of those three things. you see, when it talks about being inspirational and optimistics, one of the things that's interesting is when i first ran for governor -- i have to say first because who would have thought i'd have to get elected twice in the same term -- [la
? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. the longest 4g lte battery in a razr thin profile. with 32 hours of battery life that turns an all-nighter, into a two-nighter. the droid razr maxx hd by motorola. droid-endurance. droid-powerful. >> well, a judge may have ruled against his big soda ban, but new york city mayor michael bloomberg is at it again. the target this time, cigarettes. if the mayor has his way, stores in the city may no longer be able to publicly display tobacco products and instead keep them under the counter or behind curtains. the proposed legislation is the latest crackdown by bloomberg who successfully banned smoking in new york city restaurants and bars in 2003 and has since taken on not just the sugary drinks, but salt, trans fat and even baby formula. so, mary, the
who is independent. the cpc wants a 49% federal income tax rate on top earners. they want half. and they don't want many deductions for those folks. also the congressional progressive caucus wants even more government spending. 2.5 trillion more, on, quote, job creation. another 2.2 trillion on things like science, energy, the environment and education. also the cpc does not want to cut entitlements. and, wants to give unemployed americans 99 weeks of cash compensation. nearly two years. the question is what does president obama think of the congressional progressive caucus? my opinion, he likes it i don't think the president believes that crew is fanatical because they want what he wants. by the way, the far left kooks do want to cut one thing, defense spending. they want to bring that back down to 2006 level. somewhere in iran is cheering. there comes a point when americans are going to have to decide what country, what kind of country they want. even taking half of what affluent americans earn, feds couldn't possibly afford what the far left wants to provide. so we would eve
are always trying to protect taxes or wealthy people? is that a problem out there with the rank-and-file voters? >> no, i mean -- i don't think so. i think that's obviously a misperception that's become a real perception by the public. but i think we have to talk about things in ways that people can relate to. i mean, if you're talking about taxes and taxing small businesses, you have to talk about the fact that if -- if -- if our small businessman has to pay more money to the government, then he's going to have less money to pay to his ememployers, and the ememployers will have less money to send kids to the school of their choice. i think it's a matter of talking about the debt differently. not just we are in imminent danger in a debt crisis in this country. but what does that mean to people? it means that our government is growing so fast and it's becoming so expensive that we're making payments to our credit cards that we can't afford, which means we have to keep -- we'll keep having this debate about needing more revenue to the government. well, that means less money in peo
. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in this country. i just saw the statistics, something like 70%. and here in california, i'm just going to say, liberals, you could actually lose me. it's outrageous what we're paying. over -- i'm willing to pay my share, but yeah, it's ridiculous. >> and not only that -- >> wow. >> people like bill maher pay 55% in california, people in new york pay over 50%. in new jersey, why is a republican sitting at 70% plus appro
overwhelmingly reject a tax on savings. >> in syria, the government and rebels trade accusations of using chemical weapons in a village near aleppo. >> pope francis officially begins his papacy in rome with a promise to embrace the whole of humanity. >> in a vote expected to have wide ranging consequences, lawmakers in cyprus have delivered a decisive and overwhelming note to a government tax to lead the bank accounts. >> that means government cash for pensions, welfare, and health care could dry up as early as may. parliament voted less than an hour ago, following to be would days of high drama, handing the government and brussels a resounding defeat with no delegates voting in favor of the plan. 36 no votes and 19 abstentions. >> the house speaker had urged mp's to say no to blackmail in the vote on the bureau's own bailout package. his words clearly catching the angry mood in the chambers and on the streets. outside the parliament building, angry crowds also called for a no vote and held up signs, warning that other nations like italy and spain could be next in line. for the latest, le
. that includes a controversial tax on bank accounts to fund the bailout. >> people in cyprus brave the storm to protest outside parliament ahead of a crucial few hours for the country. inside, lawmakers are voting on a series of measures designed to help the financially stricken nation meet the terms of an international bailout package. few of the plan's details are known, even to eurozone officials in brussels, but an unpopular one of tax on savings could be back on the table, particularly on bank accounts with deposits of at least 100,000 euros. the plan needs to be in place by monday when the european central bank says it will withdraw financial aid for separate -- separate -- cypriot banks. >> a lot of people will definitely lose their jobs and benefits. >> cyprus needs to raise 5.8 billion in order to qualify for the bailout. its eurozone partners in the imf would then provide 10 billion euros in rescue loans. the fund raising measures under discussion include plans to restructure the country's second biggest lender and tapping state pension assets. >> all right, our correspondent is k
and the rest of it. >> paul: you don't object to the government taxing, so-called syntaxiin taxing, say he we want to defer the use of that? >> this is a real problem, it's a vision of government which is supposed to lead citizens to virtue. that's very different. that's not the constitutional vision. we have a free society in which people make choices and then accept the consequenceses of those choices. i would add, by the way, i can think of few measures designed to make cigarettes popular again among young people than to put them behind counters and make them seem elicit and cooler than they ought to be. >> this isn't just mike bloomberg's obsession. it's huge in public policy, how would you want to look at behavior of people, seat belt laws and singapore has a mandatory savings program, we do not. another big example, the board that barack obama set up in the middle of obamacare, the 15 people who in medicare will decide which medical practices work and which ones don't and the whole medical community will be asked to comply with this. the bigger question and that board is is an example,
? >> this is a miss for new york governor andrew cuomo who wants to extend the temporary tax increase on high income earners in the state after promising to let it expire. for the second time extending that temporary tax increase. do you think voters would learn after a while they're being played here? apparently not. out in california governor jerry brown sold californians on a temporary tax increase for high income earners in his state. i guess the blue state liberals never learn. >> paul: bret? >> briefly a hit for pope francis off to a fantastic start and i think this is obviously true for catholics and even as a non-catholic you see a pope getting out and mingling with people and showing love and humility to the people assemblying by the hundreds of thousands in rome to see him. next week, he's going to go and wash the feet of inmates in a prison for young offenders and this is the right way it seems to me to conduct the papacy and wish him continued success. >> paul: thank you all. and remember, if you have your own hit or miss, send it to us at jer@foxnews.com and follow us on twitter: @jer o
of social security tax are all slowing our progress to where we should be. >> michael: of course these companies would be hiring accountants now because they're making so much damn money because they're not paying enough wages to their workers. that's part and parcel of how it works. >> yes remember a fundamental tenant of the chicago school and i went to the chicago school is to get rid of unions, that means driving down wages. i just reported in my column in tax analysts, tax notes, if you take the average increase of income for the bottom 90% of americans from 1966 when lbj was president to 2011, it's $59. you measure that as one inch. the top ten percent line is 163 feet and the top 1% of the top percent. the mitt romney-bill gates crowd, five miles to one inch. >> michael: that's amazing. that's amazing. tell me, is this how things start? is there a reason to be optimistic? >> yes well, look, we got into this terrible situation because of three things. we had a president who said tax cuts will make everybody's income grow up. i have written and challenged the data, no, incom
revenue-neutral tax reform we want to say, we want to leave more money in the economy and reduce taxes. when ronald reagan did it we had 7% growth in one year and that is the bold leadership we need but it's not a new principle. we don't have to reinvent ourselves in that way but we have to stand on principle and unless you stand for something people are not motivated to vote for you. >> chris: let's talk about what you stand about, immigration. you came out with your ideas for a comprehensive plan this week and since then you are taking fire from both the right and the left. you call your plan for creating a legal status. not citizenship, but a legal status, for the 11 million folks who are already here, illegal immigrants who are here but taking fire from the right because you oppose the e-verify system which would make it easier for employers to check whether their workers are in fact legal or illegal. why would you oppose that? >> that's not the main part of my plan. the main part is trust but verify, we have to have border security and conservatives always wanted border security b
critical topics today. so what are the fundamental issues? well, with taxes we know ronald reagan spent much of his life trying to cut them for the average american. he was convinced that it was the man or woman on the street who knew how to spend their dollar more wisely than a distant federal government, and he did all in his power to prove it by cutting taxes. when governor jeb bush was in office, he cut taxes on floridians by $20 billion. let's talk about the size of government. when ronald reagan was in the white house, he dramatically reduced the ate rah of growth in federal spending and strove to reduce the size of the federal government. when governor bush was in office, he vetoed more than $2.3 billion in earmarked for higher state spending and retuesdayed the size -- reduced the size of the state's government payroll by 13,000 people. when ronald reagan did that on the national level, he did it with a purpose in mind. it was to spur the free market, create opportunity and provide incentives for businesses to frau. in his years in office, over 20 million new jobs were created i
with gun control and tax loopholes as well. let's bring in today's panel. the former national press secretary for the obama campaign. good to see all of you. thank you for being here. >> thanks. >> let's start with gay marriage. the attitude shift is generational. younger people are much more supportive than younger people generally speaking when it comes to same sex marriage. are hopeful politicians making a conscious decision to follow the younger voters instead of the older ones? >> take a look. the future of their party is at risk. 81% of young people support it. public opinion has change so quickly could you get whip lash. in 2004 the bush/cheney campaign built their campaign on putting ban same sex marriage on the ballot. you had santorum make outrageous comments about it. now you have a sitting u.s. senator embrace gay marriage. you've had a host republicans come out, so to speak, for it. over the years and i think you will see that grow. but chairman priebus put it into the autopsy report for the party. if the party will have a vibrant future, they're going to have to start
to affects our banking system. they had that choice. either that country defaults or they tax the banks and it is the russian money that is in there. >> let's say you have money in the caymen islands. >> oh, i do, greg. >> you probably do. and then all of a sudden the caymen islands decides they will take your money. isn't that an act of war? >> are you a dope for doing it. qaddafi did that. all of those people had the money. the libyan banks and qaddafi and your choice is to poke them in the chest and say give it back and he said no. that's the risk you take. you save on taxes and you put it in other countries, the risk is they will take your money. >> something out of this story that can anger people. given what happened in greece and cypress couldn't this happen to us in america? >> this could not happen to us in america. the idea it is russian money isn't true. it is a higher rate for those over100,000 euros. they are putting like 50,000 euros in cypress. the whole thing is enraging especially because the first story of i -- the first story i read,. >> i mean, my argument is it can
. thank god. >> irs. >> jesus loves tax collectors. that is why he accepted the hospitality of tax collectors. they called them publicans. >> if only the border patrol were as feared and effective. >> hispanic america. >> winnable. >> democrats, and gracias. >> chinese cyber attacks. >> democrats, and gracias. >> chinese cyber attacks. >> how can people be so stupid and not know why there are 6000 dead pigs floating through their river? how does that work? >> i would say more threatening than anything happening in the middle east. sorry. >> putin. >> evil, yet hilarious. [laughter] >> bush called him pooty poot. which is embarrassing. he is evil, but -- you have not seen the pictures. >> nra. >> does not represent most gun owners like me who are for president's obama's gun regulations. you have to deal with the reality. >> the only organization working to protect the constitutional right that "the new york times" hates. >> sequester. >> y2k of politics. it came and went, and no one noticed. >> it hasn't gone, and it is so incredibly dumb and it will hurt this country. a totally sel
in the unlikely, deep blue state of washington. talkingt door-to-door, about taxes and other items, and they flip them to a fiscally responsible majority, is. -- and they flipped them. the torch of liberty, the constitution in our country, will they perish or last? if we stand and speak for our principles, if we show americans our vision for the future, if we fight for freedom, our country will last. [applause] glasses with a powerful elite? the face ofnk in opposition? or will you stand boldly on principle? patriots, stand with us and fight for freedom, fight for our constitution, fight with us for the rights endowed by our creator, life, liberty, and the pursuit of happiness, fight for a better future, like ronald reagan did, like. paul, michele bachmann, scott walker. tea party patriots around this country do it every day. when you stand and fight, we will stand with you. when they fight on capitol hill, together, we will have their back. we will stand and fight for those who fight for us. fight for freedom. fight for a better future. fight. thank you so much. god bless you. god bless america.
. >> they call it the tax gap. >> engineering to get us back to earth as fast as they can. everybody, grab your strategic plans and get ready to beam down. >> shall i wear a ski cap to cover my ears, captain? >> nah, the ears are fine. >> the irs now says that video is not reflective of overall irs video efforts and they have put new standards in place. by the way, the other part of the $60,000 cost was a training video in the form of a "gilligan's island" spoof. >>> finally, the unexpected result of chris christie getting a visit from former nba star shaquille o'neal? from "new york" magazine, "chris christie has to find a way to make shaq his running mate while shaq is in no way qualified to run the country, he is, however, an extremely large person. all christie has to do is stand next to him on the campaign trail at all times and his size problem will disappear." shaquille o'neal was meeting with christie to get involved with the state's gun buy-back program. >>> up next, how far out of step is today's republican party with the rest of the country? we've got some new poll data that suggests
years. while cutting taxes every year. i have dedicated much of my adult life to revolutionize our schools so that school serves children and parents. you must know this, all of our successes at the state level, and all of the work being done in the private sector can be undone if we continue to lose presidential elections. we will forfeit our ability to chart a better future for our republic. this would be tragic in every sense of the world. as you know, sam is the former ceo of ibm. probably the best ceo in america in the last decade. sam is also a fantastic human being. he's easy to talk to, but he is also a visionary and a true leader. he told me an amazing story. withs deeply involved assembling the team that created watson, a supercomputer that can understand natural language with all the ambiguities associated with human speech. watson can read through more than 200 pages of text to find an answer in less than three seconds. what you do when you have this kind of amazing capability at your fingertips? do you know what watson is doing today? it is saving lives. it is being us
plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. with tasty grilled flavor and goodness to savor ♪ ♪ friskies grillers blend. ♪ feed the senses. all your important legal matters in just minutes. protect your family... and launch your dreams. at legalzoom.com we put the law on your side. and launch your dreams. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. ♪ pop goes the world [ female announcer ] pop in a whole new kind of clean with tide pods. just one pac h
is running a lavish white house. spending an incredible amount of tax money on himself. is that true? factor is coming right back. [ male announcer ] every day, thousands of people are choosing advil® for their headaches. my name is sunshine and i have three beautiful girls. i like taking advil® for a headache. it nips it in the bud. and i can be that mommy that i want to be. ♪ [ male announcer ] take action. take advil®. ♪ vo: to the elegant trim es in each and every piece, bold will make your reality a dream. earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it i [ man ] so i used mineo get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. and redeem them for just about anything. ♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances t
of tax money on himself. is that true? factor is coming right back. my wife takes centrum silver. i've been on the fence about it. then i read an article about a study that looked at the long term health benefits of taking multivitamins. they used centrum silver for the study... so i guess my wife was right. [ male announcer ] centrum. always your most complete. >> bill: earlier this week 8 marines were killed. seven others injured. senator reid from that state quickly exploited the issue angering the marine corps. >> this sequester should go away. we have cut already huge amounts of money and deficit reduction. it's just not appropriate, mr. president. that our military can't train and do the maintenance necessary. these men and women our marines were training there in hawthorne and with the sequester it's going to cut the stuff back. >> can i tell you marine corps officials this afternoon are taking a strong exception to what harry reid implied, saying that this exercise, for example, was planned well in advance had nothing to do with the bucket -- budget cuts, there were no corne
exempt from all local taxes from paying a 9.5% hotel tax. also they must be removed from surcharges and others to fund senior and youth programs. and he said he doesn't believe what they are asking for is fair. >> the people can afford those tickets, the little bit of price they have to pay, it is no big deal and the city should be able to reap the benefits of hosting the super bowl here. >> reporter: another contender is miami but they have not complied with demands. in 2010 they rejected the nfls request and we will have to wait and see on that. coming up, we will let you know why they think they will make up for that lost revenue in other ways. tara moriarty, ktvu channel 2 morning news. >>> all right, tara, pope frances has been officially installed in vatican city and is now vowing to serve the poorest and the weakest. this happened just hours ago. pope frances was presented with the fisherman's ring, before being installed, the st. peters square is not being sounded -- surrounded by bullet-proof vests and he stepped down to kiss the head of a disabled man in the crowd. >>> in
and the nfl is asking for its employees to be exempt from all local taxes and that would free members of the football team from paying a 9.5% hotel tax here in the bay area. one diehard fan said he does not think what the nfl is asking for is fair but he relishes having the super bowl here on home turf. >> reporter: now super bowl tickets will be here and one would have raised $29 million for senior programs. the city will also loose out and city leaders here say all could be made up and we did speak to them and they are expecting to find out why they asked for all of these requests. tara moriarty ktvu channel 2 morning news. >>> new details, a preschool in livermore was shut down following a series of allegations and it will not reopen any time soon. social services shut down the school on friday when they found two babies were swaddled too tightly. they also found one baby sleeping in a car seat and the other sleeping in a high chair. two employees are now banned from working at any state licensed childcare facility. >>> some counties may be sued for sending low-level offenders to c
all local taxes and that would free members of the football team from paying a 9.5% hotel tax here in the bay area. one diehard fan said he does not think what the nfl is asking for is fair but he relishes having the super bowl here on home turf. >> reporter: now super bowl tickets will be here and one would have raised $29 million for senior programs. the city will also loose out and city leaders here say all could be made up and we did speak to them and they are expecting to find out why they asked for all of these requests. tara moriarty ktvu channel 2 morning news. >>> new details, a preschool in livermore was shut down following a series of allegations and it will not reopen any time soon. social services shut down the school on friday when they found two babies were swaddled too tightly. they also found one baby sleeping in a car seat and the other sleeping in a high chair. two employees are now banned from working at any state licensed childcare facility. >>> some counties may be sued for sending low-level offenders to county jails instead
. i...i mean, you...love. . >>> the one thing we've seen is $1 trillion in higher taxes, taxing more, borrowing more and spending more is not a path to prosperity. >> that was congressman paul ryan on the hill. pleased that democrats are bringing bunts budgets to the table. maryland congressman chris van holland is the ranking member on the house budget committee. he joins me now, congressman van holland. good afternoon to you. >> good afternoon to you, luke. >> i want to get your take on house republicans are panning the democratic budgets that will be voted on tomorrow. your budget, the black caucus budget, the progressive budget, various ones have no chance of becoming law. is there any worry that the idea that republicans are putting forward that our budget balances, our budget balances, a very good sound bite that can work in mid-term elections. whereas you guys' isn't balanced until about 2040. is there any worry that the message could take hold and cause problems for you in the 2014 mid-terms? >> no, luke, for this reason -- the republican budget, the ryan budget balances on t
are there, but nobody heeded them. this has long been a tax haven, a country whose banking sector is eight times the size of the economy. cyprus new what was happening in did not take action. now it is a country that is in severe crisis, and it could really set off a chain reaction across the eurozone. that said, it would be unlikely that the eurozone would let them drop out or a bailout that pales in comparison to the rest, but there will have to be a radical the calculus -- the calculation to try to stabilize the entire single currency -- a radical recalculation to try to stabilize the entire single currency. >> thank you. if you thought the euro crisis was over, it may be time to think again. let's go to syria where there is a confused picture over a potentially dangerous development tonight. the syrian government and rebels are accusing each other of launching a deadly chemical attack near the northern city of aleppo. state news claims that 25 people were killed by a rocket containing poisonous gases. the rebels denied the allegation. they are blaming the assad regime. russia supports
concerned about the eu bailout and the cyprus rejection of the eu mandated tax on the small depositors. news that the housing sector is stronger than expected helping to overcome some of the markets and today. the dow up about four points. the s&p fell to the same number, the nasdaq down almost nine. big board volume today picking up. gold moving higher, up 670, closing at 161130. crude oil dropping a dollar 58 to 9216 per barrel. the bond market and interest rates falling. the ten year treasury just under 2%. federal reserve policymakers beginning their 2-day meeting. my next guest said the fed will has been substantial, don't expect changes anytime soon. that should be music to the ears of most investors. joining us, former federal reserve vice chair princeton economist alan blinder and the author of the book after the music stops. great to have you with us. >> nice to be here. lou: let's start with cypress. this little place, million folks. they're creating quite a mess. $400 billion lost of global markets yesterday. we should blame -- >> multiple of the gdp. i actually think of like what
with the beginning, and we look for to continuing the discussions. >> cypress has long been a tax haven for russian companies who have billions of euros in separate banks, but many russians who live on the island are outraged at the proposed levy on their savings. >> this country has cheated us and stolen our money. yes, stolen. it was not their money. we brought it here. we did not earn it here. >> for now, a separate account holders are relieved that parliament shot down the proposal. >> it was time to take a stand. they are sure to find a solution. the separate people are strong. we can take a lot. we have proven that before through many tough times. >> the cypriot government is still searching for any viable solution. even the country's archbishop has offered to help by digging into the pockets of the church. 17 billion euros is the son the island needs to keep afloat, approximately equivalent to the country's economic output, and it is more than the eu is willing to put up without a significant contribution from cyprus itself. >> for more, we can go now live to nicosia where our correspondent
a one-off tax. now have to come up with the money some other way. gavin hewitt has the latest. >> there is anger and anxiety in cyprus. this was a crowd of bank workers blocking access, and arriving mps had to be lifted over police barricades. protesters fear their bank will collapse. were shaken. why did they shout at you? >> because they're losing money. linesing the day, long had formed at the cash machines as the government's scramble to raise billions of euros to avoid bankruptcy. the lines mainly focused on one bank, rumored to be in difficulty. >> there is a rumor that if somebody does not buy it, it will close. >> at 1 cash machine, they posted the time when there would be funds. people phone friends to tell the one security bands were making cash deliveries -- when the security fans were making cash deliveries. with the bank still closed, some of the petrol stations were insisting on cash payments only. >> i am taking cash only because my company, have to pay them cash. suppliers later, a called. insisting on 40,000 euros, in cash, to make the next delivery. the earli
budget plan reduces the deficit without raising taxes. >> the republican plan is the same baby with a new diaper. >> we know tt until recentl president obama and israeli prime minister netanyahu enjoyed what can be politely described as a somewhat strained relationship. on april 7 of last year, the "new york times" reported benjamin netanyahu and mitt romney enjoyed a warm relationship. almost one year later, the israelis have given obama a medal. they appear to be on the same page on iran. >> diplomacy and sanctions have not stopped iran's nuclear programs. diplomacy and sanctions must be augmented by a clear and credible threat of military action. >> we will do what is necessary to prevent iran from getting the world's worst weapons. >> will this story have a happy ending? >> this story will not have a happy ending. what we saw this week was barack obama at his best, connecting with an audience, and he made a compelling case for the need for a two-state solution, the security of israel and the well- being of the region. >> charles? >> the emphasis has been on personality. what happened
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